Digital identity application and service Blockpass IDN and Maltese-based Blockchain Advisory (BCA) have announced a strategic collaboration to focus on the development of a reg-tech focused compliant ecosystem within blockchain.

The alliance brings two well-known firms already at the forefront of legal compliance together.

Bringing control back to the user, Blockpass offers an economical and efficient user onboarding process for regulated industries and any type of online service. Using the Blockpass application, users can create, store, manager data-secure digital identity that is able to be utilized for a complete ecosystem of services or token purchases.

BCA is a rapidly growing team of technology and regulatory experts. The company’s specialists introduced digital currency and blockchain technology to Malta in 2013. Currently, the experts are helping several digital currency-related and blockchain-based projects like digital currency exchanges, crypto funds and token generation events become leaders of the forthcoming shift in global tech. They also offer feedback and advice to the regulatory authorities concerning the application and execution of the Distributed Ledger Technology Regulatory Framework.

BCA CEO Jonatan Galea said in a press release CoinReport received, “Customer due diligence procedures and general AML processes have become more important than ever in the novel industry of blockchain and other distributed ledger technologies. The strategic partnership with Blockpass gives our clients access to and the cutting-edge technology provided by Blockpass coupled with peace of mind regarding security and compliance with the latest regulatory requirements.”

Blockpass CEO Adam Vaziri commented, “What’s definitely evident is that regulatory bodies are interested in blockchain based DApps and businesses, and that’s what make this strategic alliance with BCA so powerful. By combining our solution with their expertise, we are creating a think tank that will make a compliant reg-tech ecosystem accessible to all players within the space.”

Blockpass has proclaimed several important alliances lately, including with Edinburgh Napier University for the development of the ground-breaking Blockpass Identity Lab, a new blockchain research laboratory. Led by Professor Bill Buchanan and five fully financed Studentships, the laboratory will focus on the development of world-leading knowledge and innovation around citizen-centered systems which preserve the right to privacy.

Images via press release

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Tabish has been writing/editing professionally for over a decade. Louisiana Department of Education taught one of his articles to students of its career diploma course 'Film in America' after adding the article in its comprehensive curriculum. Tabish is the Publishing Editor for CoinReport and believes Bitcoin has a great future. Follow Tabish on Twitter @mdtabish